South America Passenger Vehicles Lubricants Market Analysis by Mordor Intelligence
The South America Passenger Vehicles Lubricants Market size is estimated at 660.34 million liters in 2025, and is expected to reach 758.48 million liters by 2030, at a CAGR of 2.81% during the forecast period (2025-2030).
- Largest Segment by Product Type - Engine Oils : Engine oil is the leading product type in South America due to high volume requirements and shorter drain intervals as it has high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Greases : The increasing production of motor vehicles in South America, combined with the recovering annual travel rates, is likely to boost the demand for greases in the coming years.
- Largest Country Market - Brazil : Brazil has the highest proportion of passenger cars among all South American countries, making it the largest consumer of passenger vehicle lubricants in the region.
- Fastest Growing Country Market - Colombia : The presence of an older passenger vehicle fleet and the potential expansion in new vehicle sales are likely to augment the Colombian passenger vehicle lubricants market.
South America Passenger Vehicles Lubricants Market Trends and Insights
Largest Segment By Product Type : Engine Oils
- During 2015-2019, lubricant consumption in the South American passenger vehicle (PV) sector increased at a CAGR of 1.36%. Engine oil was the dominating lubricant product type in this sector, which accounted for a share of nearly 78% in lubricant consumption of this sector in 2020. Engine oil is followed by transmission oils, which accounted for 14.2% of the lubricant consumption in 2020.
- In 2020, post the COVID-19 outbreak, the usage of passenger cars significantly dropped due to the restrictions put in place as a response to the pandemic. As a result, automotive lubricant consumption in this sector fell by nearly 9.53%, in comparison to 2019.
- The expected recovery in production and sales of new passenger vehicles is likely to drive the lubricant consumption in this sector. As a result, PV lubricant consumption is likely to register a CAGR of 2.58% during 2021-2026.
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Largest Country : Brazil
- In the South American region, passenger vehicle (PV) lubricant consumption is the highest in Brazil, followed by Argentina and Colombia. In 2020, Brazil accounted for 64.6% of the total PV lubricant consumption in the region, whereas Argentina and Colombia accounted for a share of 10% and 3.9%, respectively.
- In 2020, the reduced usage of the passenger vehicle fleet after the COVID-19 outbreak negatively affected the PV lubricant consumption across the region. Argentina was the most affected as it witnessed a 15.08% drop in consumption during 2019-2020, followed by Colombia, which witnessed an 11.6% drop.
- During 2021-2026, Colombia is likely to be the fastest-growing PV lubricant market, as the consumption is likely to register a CAGR of 4.73%, followed by Brazil and Argentina, which are expected to witness a CAGR of 3.25% and 2.43%, respectively.
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Competitive Landscape
The South America Passenger Vehicles Lubricants Market is moderately consolidated, with the top five companies occupying 57.88%. The major players in this market are ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel (sorted alphabetically).
South America Passenger Vehicles Lubricants Industry Leaders
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ExxonMobil Corporation
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Iconic Lubrificantes
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Petrobras
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Royal Dutch Shell Plc
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Terpel
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- October 2021: Ipiranga stations in Brazil began offering Texaco lubricants, a brand long recommended by major automakers in Brazil and worldwide, over the whole network.
- July 2021: Gulf Oil reached the 80 service station mark in Argentina through which it sells its lubricant products to its customers.
- June 2021: YPF partnered with the GM company to supply YPF INFINIA fuels and ACDELCO lubricants for the Chevrolet brand in Argentina.
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South America Passenger Vehicles Lubricants Market Report Scope
By Product Type
| Engine Oils |
| Greases |
| Hydraulic Fluids |
| Transmission & Gear Oils |
By Country
| Argentina |
| Brazil |
| Colombia |
| Rest of South America |
| By Product Type | Engine Oils |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils | |
| By Country | Argentina |
| Brazil | |
| Colombia | |
| Rest of South America |
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Key Questions Answered in the Report
How big is the South America Passenger Vehicles Lubricants Market?
The South America Passenger Vehicles Lubricants Market size is expected to reach 660.34 million Liters in 2025 and grow at a CAGR of 2.81% to reach 758.48 million Liters by 2030.
What is the current South America Passenger Vehicles Lubricants Market size?
In 2025, the South America Passenger Vehicles Lubricants Market size is expected to reach 660.34 million Liters.
Who are the key players in South America Passenger Vehicles Lubricants Market?
ExxonMobil Corporation, Iconic Lubrificantes, Petrobras, Royal Dutch Shell Plc and Terpel are the major companies operating in the South America Passenger Vehicles Lubricants Market.
What years does this South America Passenger Vehicles Lubricants Market cover, and what was the market size in 2024?
In 2024, the South America Passenger Vehicles Lubricants Market size was estimated at 641.78 million Liters. The report covers the South America Passenger Vehicles Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South America Passenger Vehicles Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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South America Passenger Vehicles Lubricants Market Report
Statistics for the 2025 South America Passenger Vehicles Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Passenger Vehicles Lubricants analysis includes a market forecast outlook for 2025 to 2030) and historical overview. Get a sample of this industry analysis as a free report PDF download.
